{"id":1646,"date":"2021-04-18T10:45:10","date_gmt":"2021-04-18T10:45:10","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=1646"},"modified":"2021-04-18T10:45:13","modified_gmt":"2021-04-18T10:45:13","slug":"how-does-conserving-cultural-heritage-impact-real-estate","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/how-does-conserving-cultural-heritage-impact-real-estate\/","title":{"rendered":"How does conserving cultural heritage impact real estate?"},"content":{"rendered":"\n<p><em>What attracts tourists from over the world to India? What makes it popular? The answer has to be our rich culture and heritage. This doesn\u2019t limit to the tourists alone, a rich culture and heritage also attract <\/em><strong><em>real estate <\/em><\/strong><em>buyers. The <\/em><strong><em>heritage sites<\/em><\/strong><em> in a city impact the economy and <\/em><strong><em>real estate <\/em><\/strong><em>market at large. This is applicable to all cities worldwide.<\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<p>According to a study known as the Impacts of Cultural Heritage on the <strong>real estate <\/strong>by the European Heritage Heads Forum or (EHHF) in Hungary, found that if compared with the non-listed properties, 1.9 percent price premium is caused by the national monument protection, 8.2 percent price effect is generated by the historic environment, and 4 percent fall is triggered in the local protection in Hungary.<\/p>\n\n\n\n<p>This shows that the need for the development\nand conservation of <strong>historic sites <\/strong>and\nmarket them has become a point of concern for the government as well.<\/p>\n\n\n\n<p>The Finance Minister of our country, Arun Jaitley announced his plans to preserve the<strong> heritage sites<\/strong> in India. National Heritage City Development and Augmentation Yojana, also known as HRIDAY has been started in full fledged to preserve and revitalize the soul of <strong>historic sites<\/strong>.<\/p>\n\n\n\n<p>As India has tons of tourist attractions at <strong>historic sites<\/strong>, it has been proposed that 10 prominent tourist attractions should be developed into iconic tourism destinations by using a holistic approach. This approach will involve skill and infrastructure development, technology development, attracting private investment, marketing and branding. To enhance the visitor experience, the Archaeological Survey of India will upgrade the tourist amenities at the Adarsh monuments.<\/p>\n\n\n\n<figure class=\"wp-block-video\"><video controls src=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2021\/04\/World-Heritage-Day-1.mp4\"><\/video><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/how-does-conserving-cultural-heritage-impact-real-estate\/#HRIDAY\" title=\"HRIDAY\">HRIDAY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/how-does-conserving-cultural-heritage-impact-real-estate\/#Adarsh_monuments\" title=\"Adarsh monuments\">Adarsh monuments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.propertypistol.com\/blog\/how-does-conserving-cultural-heritage-impact-real-estate\/#The_impact_on_cities\" title=\"The impact on cities\">The impact on cities<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"HRIDAY\"><\/span><strong>HRIDAY<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>To preserve the heritage of each city, Prime Minister, Narendra Modi had launched a scheme in January 2015. This scheme aims at bringing together heritage conservation, economic growth, and urban planning. It includes revitalization of urban infrastructure for <strong>heritage sites <\/strong>like ghats, monuments, temples etc. Under this, the transportation, roads, parking, and sanitation of 12 cities will be improved and taken care of. <\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Adarsh_monuments\"><\/span><strong>Adarsh monuments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>This scheme was launched in 2015 and aims to\nimprove the tourist amenities at a few key monuments. It includes Delhi\u2019s\nHumayun\u2019s Tomb, <strong>Mumbai\u2019s <\/strong>Gateway of\nIndia and Elephanta Caves, Karnataka\u2019s Hampi, and the Konark Temple of\nKarnataka. All of these monuments will undergo marketing and branding.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_impact_on_cities\"><\/span><strong>The impact on cities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Both of these schemes can be essential for the\nrevival and development of <strong>real estate <\/strong>in\ntop cities like Delhi, <strong>Mumbai<\/strong>, Pune,\nand etc. For example, Known for the ghats of River Ganga, Varanasi, has seen a\nhike in property prices and has apparently surpassed the prices in its state\ncapital, Lucknow.<\/p>\n\n\n\n<p>A maintained and well-developed heritage culture makes sure that a lot of tourists visit the city and think of settling there. All of this together creates a need for small business setups and vacation homes. And hence, increasing the demand for <strong>real estate<\/strong>.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What attracts tourists from over the world to India? What makes it popular? The answer has to be our rich culture and heritage. This doesn\u2019t limit to the tourists alone, a rich culture and heritage also attract real estate buyers. The heritage sites in a city impact the economy and real estate market at large. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[98],"class_list":["post-1646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-world-heritage-day","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How does conserving cultural heritage impact real estate? - Real Estate Sector Latest News, Updates &amp; Insights - PropertyPistol Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertypistol.com\/blog\/how-does-conserving-cultural-heritage-impact-real-estate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How does conserving cultural heritage impact real estate? - Real Estate Sector Latest News, Updates &amp; Insights - PropertyPistol Blog\" \/>\n<meta property=\"og:description\" content=\"What attracts tourists from over the world to India? 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